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Voters in Switzerland Sunday approved by 58.4 percent a referendum mandating streaming services to invest in Switzerland’s domestic film market. 40 percent of Swiss voters came out to vote on the bill, along with other referendums.
“Lex Netflix,” as it is being called, mandates that 30 percent of the streamed movies and shows are produced in Switzerland or other European counties. Additionally, the law mandates that 4 percent of the streaming services’ revenues be invested into local Swiss film production.
The law is not unique to Switzerland. The EU struck a similar deal in 2018. Switzerland was not obligated by the law because it is not part of the EU. The 4 percent, however, is higher than most of the percentages adopted by other European countries.
The “Lex Netflix” law applies to Netflix, Amazon Prime, and Disney+. The referendum passed by the lowest margin of victory of three votes. There was a strong movement against the referendum because of fears regarding higher costs for consumers. The movement launched a website in German, French, and Italian—the three official languages of Switzerland—to reach a wide range of potential voters.
Advocates, on the other hand, hope the change will aid Switzerland’s entertainment industry.
The post Switzerland voters approve referendum requiring local investment by streaming services appeared first on JURIST - News.
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“Lex Netflix,” as it is being called, mandates that 30 percent of the streamed movies and shows are produced in Switzerland or other European counties. Additionally, the law mandates that 4 percent of the streaming services’ revenues be invested into local Swiss film production.
The law is not unique to Switzerland. The EU struck a similar deal in 2018. Switzerland was not obligated by the law because it is not part of the EU. The 4 percent, however, is higher than most of the percentages adopted by other European countries.
The “Lex Netflix” law applies to Netflix, Amazon Prime, and Disney+. The referendum passed by the lowest margin of victory of three votes. There was a strong movement against the referendum because of fears regarding higher costs for consumers. The movement launched a website in German, French, and Italian—the three official languages of Switzerland—to reach a wide range of potential voters.
Advocates, on the other hand, hope the change will aid Switzerland’s entertainment industry.
The post Switzerland voters approve referendum requiring local investment by streaming services appeared first on JURIST - News.
Continue reading...
Note: We don't have any responsibilities about this news. Its been posted here by Feed Reader and we had no controls and checking on it. And because News posted here will be deleted automatically after 21 days, threads are closed so that no one spend time to post and discuss here. You can always check the source and discuss in their site.